14 March 2007
The South African Social Investment Exchange has raised some R2.4-million for selected projects since its launch in June 2006.
An initiative of the Greater Good South Africa Trust, the SA Social Investment Exchange (Sasix) says it has since expanded its investment offering with new projects and an additional investment sectors.
“Of our 31 listed social investment projects, 20 are already fully funded, which has facilitated the inclusion of additional investment offerings,” Greater Good SA chief executive Tamzin Ractliffe told Business Day last month.
Sasix was launched with an initial offering of 16 social projects over four targeted sectors: enterprise development, early childhood development, food security, and orphans and vulnerable children.
Ten new projects in the fields of basic healthcare, environment and conservation and animal protection were later introduced.
At the time of its launch, Sasix was only the second “stock exchange” of its kind in the world – the first being the Social Stock Exchange launched by Brazil’s Bovespa stock exchange in 2003.
Sasix is unique in that all its investors are able to choose discrete, time-bound and performance-based investments in projects that are meaningful and tangible to them.
According to Ractliffe, the Sasix portfolio represents an excellent opportunity for companies or individuals to take advantage of their tax-deductible donations, especially with the financial year-end coming up.
Individuals or companies can buy shares in social investment projects of their choice, as a cost of R50 per share, from the Sasix website.
At the end of the “social investment cycle”, GreaterGood provides a project performance report that includes an analysis of the achieved outcomes versus the forecast, as well as an assessment of the lessons learned.
“I believe the excellent response is indicative of the need for social investment brokering support services and a greater focus on performance-based social investment opportunities,” Ractliffe said.